The 92 Energy (ASX: 92E) share price is rocketing 44% today. Denver Gold Forum 2021 Sep 20, 2021 Uranium supply needs to double to catch up with demand - Amir Adnani. It delivered 6 million lb to customers during Q2 at an average realized price of U$33.56/lb.   It has been in a low-price range for a long time and has only recently begun to rise up again.  When we say spot price, think of a utility company buying the yellowcake at a whim versus the more structured long-term contracts (10 years) used by utilities to secure production.  The long-term contract price and spot price are not necessarily the same. The supply of uranium could fall 15% by 2025 and by 50% by 2030 due to a lack of new mine investments. Top uranium miner Kazatomprom said it may supply the metal to Sprott, the investment firm whose aggressive bets on the market have helped drive a surge in prices. At $30 uranium, that’s roughly a $5.7 billion market. 0. This implies that significant changes in management and cost allocation will be needed to generate the flexibility required for an economically viable coexistence of nuclear energy and renewables in increasingly decarbonised electricity ... This book will be of great interest to energy industry practitioners, as well as students and scholars of energy policy and politics, environmental economics and sustainable development. One tiny company is sitting on a billion pounds of it. At $30 uranium, that’s roughly a $5.7 billion market. Guest (s): Amir Adnani, CEO, UEC. Found insideEconomic theory meets whodunnit mystery in this indispensable guide to one of the most divisive innovations of our time. Uranium demand rising while supply remains uncertain: Cameco, West Coast offshore wind to help California achieve clean energy goals, Latam marine fuel 0.5% prices soar to 17-month highs, surpass pre-pandemic levels, Commodity Tracker: 4 charts to watch this week. Reprocessing and Recycling of Spent Nuclear Fuel presents an authoritative overview of spent fuel reprocessing, considering future prospects for advanced closed fuel cycles. 180 million lbs of demand. The above infographic from Standard Uranium outlines how uranium’s demand and supply fundamentals stack up, and how that balance could change the direction of the market in the future.. "We're also seeing increased demand for uranium from financial funds and junior uranium companies," Gitzel said. Which is wild, given the supply / … The bulk of demand is distributed across some 445 nuclear power plants operating in 32 countries, with supply concentrated in a handful of mines. However, after years of depressed prices, the supply of uranium is tight and new mines and exploration have been hard to come by. This includes initial cores for new reactors coming online. A global copper shortage is driving prices higher. When you sign up for their free report, you’ll also start getting their renowned market insights daily. September 22, 2021. Get all the details in your free report from Resource Stock Digest by entering your email address. The gap between demand and supply is being met by drawing down inventories, downgrading weapon-grade sources, and uranium underfeeding (re-enriching uranium tailing). The world's largest and lowest cost uranium producer, National Atomic Company Kazatomprom, announced in August 2019 that it was reaffirming its commitment to reach and maintain a more commercial balance between supply and demand by extending its 20% production curtailment through to 2021. Looking forward, we estimate it to trade at 32.09 in 12 months time. Found inside#1 NEW YORK TIMES BEST SELLER • In this urgent, authoritative book, Bill Gates sets out a wide-ranging, practical—and accessible—plan for how the world can get to zero greenhouse gas emissions in time to avoid a climate catastrophe. 0. Cameco states “Given the timeline it takes, we should be investing now to replace that lost production, but at today’s prices, it makes zero sense to invest in greenfield projects. The Future of Uranium: A Story of Supply and Demand. This Intergovernmental Panel on Climate Change Special Report (IPCC-SRREN) assesses the potential role of renewable energy in the mitigation of climate change. Since the Fukushima accident in 2011, uranium prices have been on a downtrend, forcing several miners to suspend or scale back operations. Low-Cost Uranium Project in Argentina to Meet Domestic Supply Demand Source: Streetwise Reports (4/26/21) Blue Sky's Amarillo Grande Uranium-Vanadium Project in the Rio Negro province includes the flagship Ivana project, which boasts Argentina's largest NI 43-101 resource estimate for uranium, with a significant vanadium credit. Any contract with Sprott will reflect Kazatomprom’s long-term view of supply and demand, Batyrbayev said. Uranium Giant in Talks to Supply Sprott as Investor Demand Soars Back to video The radioactive metal, used to fuel nuclear plants, has soared to the highest price since 2014 due in part to Sprott’s buying spree. The Uranium Market Outlook is a quarterly report on the uranium market that examines recent and prospective spot and long-term contract market activity, supply and demand trends, supplier developments, and the outlook for prices over the short and long term. About 120-125 million in primary supply; 30 million in secondary supply. The uranium market is at an inflection point, with tightening supply and rising demand. Download Forty Years of Uranium Resources Production and Demand in Perspective Books now!Available in PDF, EPUB, Mobi Format. Data from Statista indicates a potential demand of 209 million pounds of uranium concentrate by 2035. Their CEO also stated they themselves may buy from the spot market of uranium in order to keep their inventories up and meet their sales commitments.  Both are good moves to keep their nation’s uranium for a later time when prices rise. This book brings together all of the important new results on the state space framework for exponential smoothing. Click here to read the previous uranium outlook. It is almost going to double the profile of nuclear generation and demand for uranium by the end of the decade,” Adnani told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the Denver Gold Forum.  Finally, these last 10 years have also seen an exodus of talent and expertise which will make the deficit even worse.  Fueling the fire is the new transition to a greener economy and the electrification of everything thanks to the Net Zero 2050.  And of course, the developing world will be increasing their electricity use. Descriptive Uranium Deposit and Mineral System Models This publication provides a set of systematic descriptive models for each uranium deposit type, subtype and class, using a consistent approach to summarise the same types of information ... Grant Isaac. Prices for the radioactive metal rocketed 41% in 2021 — sending the few uranium mining stocks soaring. Uranium production in 2020 was 47,731 mtU, down 24.5% from what it was in 2016, the group said. Uranium’s long-term outlook seems promising, but the constant disruption in the ratio of supply and demand has affected the commodity’s price. UF6 is needed to produce EUP (enriched uranium product) and EUP is needed to produce new fuel rods for reactors. Current production is estimated at a little over 125 million pounds per year, while demand is estimated at being 190 million pounds for 2021. 16 Sep 2021, 2:50 AM IST 17 Sep 2021, 2:23 PM IST 16 Sep 2021, 2:50 AM IST 17 Sep 2021, 2:23 PM IST Save (Bloomberg) -- The Canadian firm behind the world’s only physical uranium fund said hedge funds and family offices are driving up demand for the radioactive metal used to fuel nuclear reactors. Published by Samantha Wong , May 7, 2021. The Uranium supply is only around 134 million pounds. The outlook for energy use worldwide presented in the International Energy Outlook 2016 (IEO2016) continues to show rising levels of demand over the next three decades, led by strong increases in countries outside of the Organization for ... Irwin is a long-term uranium bull has the market faces growing demand and a lack of supply due to a decade of dismal prices. Uranium Supply Needs to Double to Meet Demand. Synopsis : Forty Years of Uranium Resources Production and Demand in Perspective written by Nuclear Energy Agency, published by OECD which was released on 23 September 2021. With the move to decarbonize and to use cleaner energy accelerates, nuclear power faces rising demand from not just domestic U.S. consumers, but also increased energy demand from the Far East, said Amir Adnani, CEO of UEC (NYSE: UEC). Global demand for uranium was forecasted to reach 209 million pounds of U 3 O 8 by 2035. World Nuclear Association has revised its reactor requirements model for the new edition of the report to include a reassessment of various factors influencing demand. Uranium Is Gaining Interest On Reddit's Most Notorious Investment Forum Authored by Haley Zaremba via OilPrice.com, Nuclear advocates point out that the much-maligned form of energy production is actually one of the safest out there. The U.S. Department of Energy, Energy Information Administration (EIA) joined with the U.S. Department of the Interior, U.S. Geological Survey (USGS) to analyze the world uranium supply and demand balance. Charlotte McLeod - September 6th, 2021. Found inside – Page 334World Supply and Demand for Enrichment Services 70 Demand 60 ( 9 ) 50 ( 8 ) ... 2003 2005 2007 2009 2011 2013 2019 2021 2023 2025 2015 2017 Year Supply Source ... This book is the result of a joint research effort led by the U.S. National Academy of Sciences and involving the Royal Scientific Society of Jordan, the Israel Academy of Sciences and Humanities, and the Palestine Health Council.  Smart. The fireside chat will occur on Thursday, October 7th at 10:30 a.m. EST and will be available by webcast on cameco.com. Found inside – Page 74... the effects on uranium demand would occur after 2025 . ... With breeders in 2014 , a peak in demand occurs in 2021 , or about 7 years after introduction ... 08. The industry giant, Cameco, has suspended multiple mining projects in the past to stabilize the price of uranium stocks. The gap between demand and supply is being met by drawing down inventories, downgrading weapon-grade sources, and uranium underfeeding (re-enriching uranium tailing). Uranium, an obscure commodity, is a new Reddit favorite. The Thesis: Winder increased his 2021 triuranium octoxide price target by 18% to $36.30. However, these factors increasing fuel demand are offset by a trend for increased efficienci…  Yellowcake/U3O8 is how uranium is generally found in the wild before it gets processed through multiple steps to finally be used as fuel in a power plant. Found inside – Page 57However , it must be concluded that uranium production may only be successfully ... Cost 2019 2024 2021 2027 2021 2029 High Demand Case High MediumCost High ... And its stock has to rise nearly 20X to match the value of the deposit! Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. In fact, given the persistently low prices, not only have we seen planned supply curtailments, lack of investment and the end of reserve life for some mines, we’ve seen shrinking secondary supplies and trade policy issues, all of which have been amplified by unplanned supply disruptions.”. The largest percentage of all fuels. (Bloomberg) -- Top uranium miner Kazatomprom said it may supply the metal to Sprott Inc., the investment firm whose aggressive bets on the market have helped drive a surge in prices. At the market's peak in 2008, uranium spot prices were trading at $136 a pound. Nariman Gizitdinov. The current fleet of power plants needs about 68,000 metric tons (150 million lbs) of uranium per year which translates to about 80,500 metric tons (180 million lbs) of mined yellowcake per year to keep up with demand. “We are well-positioned to take advantage of a market where demand for nuclear power, both traditional and non-traditional, is growing and where the risk to uranium supply is greater than the risk to demand..." Tim Gitzel, Cameco's president and … The supply of uranium could fall 15% by 2025 and by 50% by 2030 due to a lack of new mine investments. Shift in supply and demand balance 101 are planned for future construction (approvals, funding or commitment in place, and expected to be in operation in the next 15 years). However, supply is likely to be restricted to 114 million pounds of uranium. Care and maintenance costs for production suspensions at McArthur River, the Key Lake mill where McArthur River ore is processed, and other mining operations in Canada and the US are expected to total between C$185 million and C$215 million in 2021, Cameco said. The capacity is growing slowly, and at the same time the reactors are being run more productively, with higher capacity factors, and reactor power levels. Very small. Get all the details in your free report from Resource Stock Digest by entering your email address. Uranium Energy Corp.(NYSE:UEC): The share price of leading uranium mining company Uranium Energy’s (UEC) has shot up over the past month, propelled by skyrocketing uranium prices and growing demand for uranium for nuclear electricity generation. Under the strategy, Cameco is continuing to produce at its Cigar Lake uranium mine, also in northern Saskatchewan, and purchasing U3O8 in the spot market to make up for the shortfall in mined uranium and delivering the material into contracts. Uranium is currently trading on the commodities market for US$30.90 per pound. Top uranium miner Kazatomprom said it may supply the metal to Sprott, the investment firm whose aggressive bets on the market have helped drive a surge in prices. “China, by 2030, will have more nuclear generation than the United States. The uranium market is at a tipping point. Cameco said it added 7 million lb to its long-term contract book, bringing the total contracted so far in 2021 to 16 million lb. July 9, 2021. In The Colder War: How the Global Energy Trade Slipped from America's Grasp, energy expert Marin Katusa takes a look at the ways the western world is losing control of the energy market, and what can be done about it. And the amount of hydropump storage required to store the world’s daily electrical surge is equal to only eight times the volume of Lake Mead. In the Reference Scenario, these are expected to rise to 79,400 tU in 2030 and 112,300 tU in 2040. Found insideThe database includes a commodity terms-of-trade index—which proxies the windfall gains and losses of income associated with changes in world prices—as well as additional country-specific series, including commodity export and import ... Steve Hanke talks Evergrande, inflation. 04/30/2021 - Amir Adnani: Uranium Supply Cannot Meet Demand 06/09/2016 - Amir Adnani: Opportunity in Uranium is the Best in Decades. This is part 2 in a series on building the bull investment thesis on uranium.  In part 1, we dispelled the usual fears of nuclear energy and established it as a safe, reliable, all-seasons, 24-7 baseload electricity provider that can operate anywhere in the world at scale. Experts weigh in on supply cuts, rising demand and more. “Irwin is a long-term uranium bull has the market faces growing demand and a lack of supply due to a decade of dismal prices. Of the 2.4 million lb Cameco purchased, 1.4 million lb were bought from its Inkai joint venture with Kazatomprom at US$28.70/lb. Learn about Resource Stock Digest and Terms of Use and Privacy Policy. In 2021, the demand of uranium in China was estimated to be over 10,000 metric tons. There are 443 operable nuclear reactors in the world. Found insideSome of these shortages have disrupted the delivery of medical care. Molybdenum-99 for Medical Imaging examines the production and utilization of Mo-99 and associated medical isotopes, and provides recommendations for medical use. Uranium 2020: Resources, Production and Demand. Biden’s energy platform mentions advanced nuclear as part of “ critical clean energy technologies ” and lists “reclaiming” domestic uranium mining as a goal. Sprott Physical Uranium Trust has purchased more than 28 million pounds of physical uranium from the market from its launch. Major uranium mines are closing. They only recently opened up one of their mines in April 2021, but had been idle due to COVID, but are restarting.  Time will tell how much they actually produce this year as COVID and wildfires possibly reduce output. Cameco CEO Tim Gitzel mentioned supply might not reflect demand because of low prices in the past. …. This is part 2 in a series on building the bull investment thesis on uranium. Uranium market supply and demand update – Here’s what to watch in the Uranium sector Justin Huhn, Founder of the Uranium Insider joins me for a broad Uranium market update. So if you’re catching on here, you’re realizing the Uranium market is small. 0. Uranium is expected to trade at 33.11 USD/LBS by the end of this quarter, according to Trading Economics global macro models and analysts expectations. "Since 2011, about 1.6 billion pounds of uranium have been consumed in reactors, and only about half of that or 800 million pounds have been placed under long-term [utility] contracts," Gitzel said in a second-quarter earnings call. read more > In Energy Investing For Dummies, you'll find important information on the big-three markets of electricity, natural gas, and oil; growing markets for liquefied natural gas, emissions, coal, and alternative energy; primers on advanced topics ... Demand for uranium is growing at the same time supply is becoming less certain, said Cameco President and CEO Tim Gitzel July 28. Returns as of 09/22/2021. 57 reactors are under construction (first concrete for the reactor poured). The company said the combined cost to purchase and produce the 3.7 million lb uranium in Q2 totaled C$37.73/lb, roughly C$7/lb higher than the production costs at Cigar Lake the past two years. Found inside – Page 277Following the large supply shortages in 2008 and 2010 the Organization for ... production community will be unable to support demand beginning in 2021 time ... Many projects require at least 50 maybe 60 dollars per lb of U3O8 to break even.  We are still a long way from that.  Some of the world’s largest producing mines are also ending their life. Between these large producers, Cameco and Kazatomprom, we can fish information of the current status of production around the world. But these are short-term strategies. The company had said in its first-quarter earnings report May 7 it planned to buy between 11 million and 13 million lb and deliver between 23 million and 25 million lb to customers in 2021. Morgan Stanley commodity strategists say it may be hard to maintain robust investment demand into 2022. They provide about 10% of the world’s electricity. Uranium prices have hit nine-year highs on the back of strong demand and supply crunch. The Sprott Physical Uranium Trust has been buying the metal on the spot market since August, which signals the start of a bull run for uranium. That's … In the future, investors may focus on the sustainability of such rallies, as the supply and demand fundamentals of commodities have not changed since Sprott began purchasing. Any contract with Sprott will reflect Kazatomprom’s long-term view of supply and demand, Batyrbayev said. Due to uranium mine supply cuts, and the price of physical uranium being below the cost of production, the supply of uranium is insufficient to meet current and future demand. “Supply is coming down significantly,” said Nick Piquard, a portfolio manager at Horizons ETFs, which owns a uranium ETF. The rally gathered momentum in the past two months as the Sprott fund started purchases that propelled the heavy metal to an almost seven-year high.  So, we have a commodity that is absolutely necessary for the functioning of modern civilization.  We have a supply deficit.  We have a green energy transition that governments around the world are committing to and the “electrification of everything”.  The uranium price must go up to bring equilibrium to supply and demand. Yes, uranium mentions on social media are keeping its valuations high. Found inside – Page 259Develops, applies, and maintains modeling systems for analyzing the interactions of demand, conversion, and supply for all energy sources and their economic ... Found inside – Page 15Uranium could be valuable as well as electricity generation moves away from ... It could cause supply to exceed demand—which would lead to negative cash ... To continue reading you must login or register with us. 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